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Mosman Oil and Gas Limited announced on 14 May 2025 that drilling has commenced and surface casing has been set for the first exploration well, Barclay-TH 295 106A. This well is part of a five-well programme in the Vecta Project, Las Animas County, Colorado, US, and will test the Lyons Sandstone formation with a planned total depth of circa 800ft. Mosman holds a 90% interest in the Billy Goat lease area and a 20% working interest in other Vecta Project areas.
| Date | 14 May 2025 |
| Time | 07:00:07 |
| Category | Corporate updates |
| ID | 6096I |
14 May 2025
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Vecta Project Drilling Commenced
Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, is pleased to announce the spudding of the first exploration well of a five well programme in the Vecta Project, Las Animas County, Colorado, US.
Highlights
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Drilling has commenced and surface casing set. |
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The Barclay-TH 295 106A well will test the Lyons Sandstone formation at the Billy Goat lease area ("AMI"), with a planned total depth ("TD") of circa 800ft in the Lyons Sandstone. |
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Drilling will continue to determine top of Lyons formation, and then to TD. |
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Gas will be tested to determine concentrations of gases, including helium. |
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Wireline logging will be conducted at TD to determine the reservoir and gas/fluid properties. |
Vecta Project (90% interest in Billy Goat, 20% working interest in other areas)
The Vecta Project is operated by Vecta and is located in Las Animas County, close to the Red Rocks helium producing field, and Blue Star Helium's Galactica development project. Helium concentrations of up to 11% have been encountered in offset wells and fields in the area, with the closest well, Texaco Cynthia True-1, flowing 8.8% helium from the upper Lyons sandstone.
A total of five wells are planned to be drilled in this drilling campaign, testing five individual structural closures.
Location Map illustrating the five prospects identified by surface mapping within the Project Area (Courtesy of Vecta Oil and Gas Ltd.).
Andy Carroll, Chief Executive Officer of Mosman, said: "The drilling of this Billy Goat well is exciting given the excellent lease position in a proven area of helium development and production
"Each well location has been carefully selected by the very experienced team at Vecta and we believe each well has an excellent chance of discovering helium. The low-cost drilling of these wells enables data to be obtained at very reasonable cost.
"This location has good access to infrastructure including roads, pipelines and the Ladder Creek helium plant located at Cheyenne Wells, about 100 miles north of Billy Goat."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this information is now considered to be in the public domain.
Enquiries:
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Mosman Oil & Gas Limited Andy Carroll CEO
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NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
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Alma Justine James / Will Merison +44 (0) 20 3405 0205 |
Joint Broker CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 |
Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com
Notes to editors
Mosman (AIM: MSMN) is a helium, hydrogen and hydrocarbon exploration, development, and production company with projects in the US and Australia. Mosman's strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration. The Company has several projects in the US, in addition to exploration projects in the Amadeus Basin in Central Australia.